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The Two-Way

'All Eyes On Sarkozy,' As He Sets Out Vision For Europe

By Eyder Peralta

France's President Nicolas Sarkozy delivers a speech on road safety at the Elysee Palace in Paris on Nov. 30.

Philippe Wojazer AFP/Getty Images

French President Nicolas Sarkozy is set to deliver a speech that will set out his vision for Europe. This is a big speech: First because Sarkozy and German Chancellor Angela Merkel have been leading the efforts to save the euro and contain the European sovereign debt problems. Secondly, Sarkozy is facing a tough reelection campaign next spring and he is expected to make the case that he's the best person to take the country forward.

Facing what will likely be a bruising re-election battle next spring, French President Nicolas Sarkozy is set to deliver a speech Thursday in a bid to show sceptical voters, jumpy markets, and other European powers that he is confronting the eurozone crisis head-on.

Sarkozy will give the eagerly awaited address in the southern port city of Toulon, where he spoke in 2008 about the global financial crisis and the need to "re-found global capitalism".

The speech comes at a crucial moment for Sarkozy, with rating agencies pondering a downgrade of France's "AAA" debt rating and a major European economic summit scheduled for December 8 and 9.

The Wall Street Journal says that "all eyes" are on Sarkozy because the speech is also coming ahead of the European Union summit next Friday and Merkel is expected to give a speech tomorrow.

"Many see that meeting as the very last chance for Europeans to prevent the implosion of their currency zone," writes the Journal.